The following is a Whistleblower Letter to the U.S. Securities and Exchange Commission expressing the complaint that the U.S. Government is committing a fiscal and accounting fraud that is enriching the U.S. ruling class, is colossally enriching the U.S. upper class, is colossally cheating the U.S. general public, and is colossally cheating the rest of the planet!

I am also copying “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” since it is my view that the “news media” has an ethical responsibility to inform the U.S. general public that the U.S. Government is using fraudulent accounting to enrich the U.S. ruling class and the U.S. upper class at the expense of the U.S. general public!

Whistleblower Letter #13 to The U.S. Securities and Exchange CommissionNovember 25, 2017

I am a Whistleblower! This is my 13th letter to the U.S. Securities and Exchange Commission expressing the same complaint.

The elite in America have resorted to fiscal and accounting fraud to enrich themselves!

The Government of the United States of America is perpetrating a fiscal and accounting fraud, a Ponzi scheme which I have named USAPonzi, that is enriching the U.S. ruling class, is colossally enriching the U.S. upper class, is colossally cheating the U.S. general public, and is colossally cheating the rest of the planet!

The U.S. Government is perpetrating this fraud by operating its fiscal policy with Cash Accounting rather than the proper and Generally Accepted Accounting Principles (GAAP Accounting)!

Because of this fraud, the U.S. Government has fraudulently borrowed $109.0 Trillion from the future Americans, money the future Americans do not have, and has given this $109.0 Trillion to the U.S. upper class by undertaxing them!

The fiscal policy of the U.S. Government is a Ponzi scheme, which I have named USAPonzi, and all of these 13 letters have been written to expose this fraud. I hope that each successive letter provides better clarity into this fraud, its cause, its distortions, and the economic inequity that this fraud is creating for the citizens of the United States of America and in fact the entire planet.

The U.S. Government is conspiring with the U.S. upper class to fraudulently transfer $109.0 Trillion of imaginary-counterfeit wealth to the U.S. upper class! This is the biggest crime in the history of the planet and it is being committed by the U.S. Government! This is a criminal activity by the senior officials of the U.S. Government because they are direct financial beneficiaries of this accounting fraud that they are perpetrating!

This USAPonzi fiscal policy is very simply stated; the U.S. Government spends and commits to spend much more than the U.S. taxpayers can afford, dramatically undertaxes the current Americans relative to these spending commitments, defers the resulting liabilities to the future Americans, and attempts to conceal the magnitude of this fiscal imbalance by assessing and reporting its financial condition with corrupt and fraudulent accounting by using Cash Accounting rather than the proper GAAP Accounting.

The following table gives a summary assessment of the U.S. Government financial condition as of November 25, 2017 as estimated by www.usdebtclock.org.

The U.S. Government is reporting a Cash Deficit in FY2018 of $0.67T when proper GAAP Accounting reports that our real GAAP deficit in FY2018 is more than 8X that at $5.66T! And the U.S. Government's recommended plan to fix this fiscal imbalance is to lower taxes which will increase the deficit by $1.5 Trillion over the next ten years! What a farce! According to GAAP Accounting, our public liabilities will increase over the next ten years from the current $109 Trillion to about $165.6 Trillion($109T + 10 x $5.66T) since the U.S. Government is taking no action to reduce the annual deficit. In fact, the annual deficit will continue to increase because the U.S. Government has to pay interest on these public liabilities!

But the U.S. upper class will appear to be a whole lot richer by FY2027 since public liabilities become private assets in the pockets of the people and businesses that did not pay the taxes to balance the budget!

USAPonzi is producing massive but imaginary-counterfeit wealth for the U.S. upper class with GAAP basis deficit spending!

The U.S. Government is not operating with Accrual Accounting (GAAP Accounting) and therefore is not properly accruing for the future U.S. Government benefit commitments. The U.S. Government is promising future benefits that it has underfunded by $88.5 Trillion (US Unfunded Future Liabilities) and has overspent on a cash basis by $20.5 Trillion(National Debt). As a result, the U.S. Government has deferred $109.0 Trillion of public liabilities to the future Americans and has undertaxed the current Americans, primarily the U.S. upper class, by $109.0 Trillion (US Unfunded Liabilities (GAAP)).

The U.S. Government has borrowed $109.0 Trillion from the future Americans and given it to the U.S. upper class by undertaxing them. The U.S. Government is colossally enriching the U.S. upper class with GAAP basis deficit spending. However, since this money was borrowed from the future Americans and the future Americans do not have $109.0 Trillion, I call this fraudulently gained money, imaginary-counterfeit money. This money does not exist; the U.S. Government just imagines that the future Americans will be able to pay it someday so it is imaginary but the future Americans can never pay it so it is counterfeit!

The total net worth of all Americans is currently estimated to be $135.5 Trillion (Total National Assets) but $109.0 Trillion of that is the imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans with GAAP basis deficit spending! The U.S. Government has fraudulently deferred $109.0 Trillion (US Unfunded Liabilities (GAAP)) to the future Americans and has undertaxed the U.S. upper class by $109.0 Trillion! This estimate indicates that 80.4% of the net worth in America is imaginary-counterfeit money ($109.0T/$135.5T = 0.804) that has been fraudulently borrowed from the future Americans. The U.S. upper class is appearing to get filthy rich because of this U.S. Government fraud that I call USAPonzi!

The U.S. Government is creating money out of “thin air” with fraudulent accounting! The U.S. Government is digitally printing imaginary-counterfeit money with GAAP basis deficit spending. The U.S. Government digitally prints another $15.5 Billion more imaginary-counterfeit money every day (GAAP Deficit in FY2018 = $5.66T/365= $15.5B)! The U.S. Government has given the U.S. upper class $109.0 Trillion of imaginary-counterfeit money and is giving them $15.5 Billion more every day!

The U.S. Government does this by making false and unaffordable benefit promises to the U.S. general public and underfunding these promises by $88.5 Trillion so that it can enrich its upper-class friends!

The U.S. Government then borrows $20.5 Trillion from the fraudulently enriched upper class so that it can enrich itself!

The stock market has been going up for the last 48 years because the U.S. Government is digitally printing imaginary-counterfeit money, $109.0 Trillion so far, with GAAP basis deficit spending and giving it to the current Americans!

House prices have been going up for the last 48 years because the U.S. Government is digitally printing imaginary-counterfeit money, $109.0 Trillion so far, with GAAP basis deficit spending and giving it to the current Americans!

The U.S. upper class has been buying and building bigger and bigger and finer and finer houses, condos, and apartments for the last 48 years with imaginary-counterfeit money, $109.0 Trillion so far, that the U.S. Government is digitally printing with GAAP basis deficit spending and giving to the U.S. upper class!

The price of gold, oil, eggs, milk, bread, butter, popcorn, drugs, and healthcare have been going up for the last 48 years because the U.S. Government is digitally printing imaginary-counterfeit money, $109.0 Trillion so far, with GAAP basis deficit spending and giving it to the current Americans!

Professional athletes, entertainers, hedge fund managers, financial advisors, and business executives have been making millions and even billions for the last 48 years because the U.S. Government is digitally printing imaginary-counterfeit money, $109.0 Trillion so far, with GAAP basis deficit spending and giving it to the current Americans!

Essentially everyone in America now has access to a smartphone, a color TV, and a car because for the last 48 years the U.S. Government has been digitally printing imaginary-counterfeit money, $109.0 Trillion so far, with GAAP basis deficit spending and giving it to the current Americans!

In fact, we now have so many cars that we can barely keep the traffic moving. We are buying our cars, trucks, airplanes, boats, and military equipment with imaginary-counterfeit money, $109.0 Trillion so far, that the U.S. Government is borrowing from the future Americans by using fraudulent accounting!

This accounting fraud has produced millions of imaginary millionaires and hundreds of imaginary billionaires! $109.0 Trillion of imaginary-counterfeit money can make a lot of people rich!

This accounting fraud has made the Saudi Princes rich! This accounting fraud has made Vladimir Putin rich. This accounting fraud has made Donald Trump rich. This accounting fraud has made Carlos Slim rich! This accounting fraud has made Warren Buffett, Bill Gates, the Walton family, Michael Jordan, Tiger Woods, Lebron James, and Matthew Stafford rich! This fraud is appearing to make the U.S. upper class filthy rich with imaginary-counterfeit money!

This accounting fraud is building high rise apartments and condos in cities all over the planet with imaginary-counterfeit money that the U.S. Government is borrowing from the future Americans by using fraudulent accounting!

This accounting fraud is building skyscrapers in the Middle East, Ghost Cities and airports in China, and luxury resorts, luxury sports arenas, and luxury golf courses all over the planet with imaginary-counterfeit money that the U.S. Government is borrowing from the future Americans by using fraudulent accounting!

This accounting fraud has built the city of Las Vegas with imaginary-counterfeit money that the U.S. Government is borrowing from the future Americans by using fraudulent accounting!

This accounting fraud has built a bank and a Starbucks nearly every place you look. We now have 26,000 Starbucks stores so that we can buy premium coffee whenever and wherever we want it with the imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans. We now have 93,000 branch banks so that we can manage this $109.0 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.

Apple will soon be worth a Trillion dollars because we are buying their iPhones with the $109.0 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.

The U.S. Government has fraudulently borrowed $109.0 Trillion from the future Americans so that the current Americans can buy things from the rest of the planet with this $109.0 Trillion of imaginary-counterfeit money! We are filling the planet with junk that we are buying with the $109.0 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans, money that the future Americans do not have!

I estimate that Americans have bought about 5-7 times as many “things” as they can afford because of this fraud since about 80-85% of our “money” has been fraudulently borrowed from the future Americans!

The U.S. ruling class and the U.S. upper class are conspiring to enrich themselves by using fraudulent accounting, and in the process the U.S. Government is cheating the U.S. general public and the rest of the planet.

This fraud can only be eliminated by the U.S. Government adopting GAAP Accounting and committing to a balanced GAAP basis budget!

The United States of America is not a trusted party in the global economy because the U.S. Government is digitally printing imaginary-counterfeit money by pretending to borrow it from the future Americans and giving this money to the U.S. upper class by undertaxing them.

The U.S. Government has created $109.0 Trillion of imaginary-counterfeit money out of “thin air” with fiscal and accounting fraud to enrich the U.S. upper class!

The U.S. general public needs to be informed of this fraud that is in the process of shifting an infinite amount of imaginary-counterfeit wealth to the U.S. upper class!

The U.S. general public is going to be mad as hell whenthey find out that the U.S. Government is committing fiscal and accounting fraud to enrich the U.S. ruling class and the U.S. upper class while making false, unaffordable, and unfunded benefit promises to U.S. general public. The U.S. Government has no intention or capability to pay these future benefit promises that it has made to the U.S. general public but it has managed to give the U.S. upper class $109.0 Trillion and to overpay the U.S. ruling class and its related business by $20.5 Trillion.

The U.S. Government is running a $109.0 Trillion Ponzi scheme!

Surely someone will finally fess up to this massive Ponzi scheme fraud and corruption. But as I say, we have a bunch of Criminals, Scoundrels, Liars, and Cheaters running the U.S. Government and the upper-class people that are appearing to get rich as a result of this fraud do not want it to stop so they are not about to say anything.

Will the Securities and Exchange Commission be the one that finally exposes this fraud and corruption?

Since this accounting fraud is borrowing an ever-increasing stream of money, $109.0 Trillion so far, from the future Americans, money that the future Americans do not have, and giving it to the U.S. upper class; the global economy and the global financial system are both a hoax and a scam that is being perpetrated by the corrupt U.S. Government!

USAPonzi is a Ponzi scheme of the same ilk as Enron and Madoff just 2,000 times bigger than either of these frauds. I feel sure that the senior U.S. Government officials will claim the same defense as did most of the perpetrators of the Enron and Madoff frauds; “I didn’t know that it was happening”. That may in fact be true, but they should have known and their advisors surely should have informed them of this fraud.

When USAPonzi implodes, this imaginary-counterfeit money will evaporate into the “thin air” from whence it came!

When USAPonzi implodes, the global economy will likely fall into the deepest economic depression since “The Great Depression”!

To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.

I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books “USAPonzi” (Nov 22, 2015) and “USAPonzi2” (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.

This is the biggest ($109.0 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.